If you're lucky enough to have a cool $50,000 sitting in a savings account, I would suggest you consider putting it to work in the share market today.
This is because the local share market has provided an average annual return of 9.1% over the last 30 years according to Fidelity, vastly superior to the returns on offer from savings accounts.
Based on this average return, this means that if you had invested $50,000 in the market 30 years ago it would now be worth approximately $681,000 today.
With that in mind, here are three top buy and hold shares I think investors ought to consider today:
Altium Limited (ASX: ALU)
I think this printed circuit board (PCB) design software provider would be a great buy and hold investment option for investors today. According to global tech giant Cisco, there will be upwards of 500 billion devices and objects connected to the internet by 2030. As the majority of these devices require printed circuit boards inside them, I believe Altium will see demand for its software increase substantially and lead to above-average earnings growth.
CSL Limited (ASX: CSL)
Like Altium, I think this global biotherapeutics company is amongst the best buy and hold investment options on the local share market. This is down to the fact that I believe it is one of Australia's highest quality businesses and capable of growing its bottom line at a solid rate for the foreseeable future thanks to its immunoglobulins, specialty products, and vaccines businesses. Its shares may be expensive, but I think they are worthy of the premium.
Ramsay Health Care Limited (ASX: RHC)
Due to ageing populations and increased cases of chronic disease across the globe, I expect that this private hospital operator will see demand for its services increase substantially over the next couple of decades. I believe this puts Ramsay in a great position to profit and deliver market-beating returns for investors. So with its shares down over 11% from their 52-week high, now could be a good time to consider an investment.
